Capital Management Corp VA Sells 97,365 Shares of CNX Resources Co. (NYSE:CNX)

Capital Management Corp VA cut its position in CNX Resources Co. (NYSE:CNX) by 20.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 382,966 shares of the oil and gas producer’s stock after selling 97,365 shares during the quarter. CNX Resources comprises about 2.2% of Capital Management Corp VA’s holdings, making the stock its 15th largest position. Capital Management Corp VA owned about 0.25% of CNX Resources worth $12,473,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of CNX Resources by 54.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,896 shares of the oil and gas producer’s stock valued at $46,000 after purchasing an additional 666 shares during the period. Blue Trust Inc. lifted its holdings in shares of CNX Resources by 135.4% in the third quarter. Blue Trust Inc. now owns 1,966 shares of the oil and gas producer’s stock worth $64,000 after buying an additional 1,131 shares in the last quarter. CWM LLC boosted its position in shares of CNX Resources by 77.0% in the third quarter. CWM LLC now owns 2,149 shares of the oil and gas producer’s stock valued at $70,000 after acquiring an additional 935 shares during the period. Natixis purchased a new position in CNX Resources during the first quarter valued at approximately $79,000. Finally, Innealta Capital LLC bought a new stake in CNX Resources during the 2nd quarter worth approximately $131,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

CNX has been the subject of a number of recent analyst reports. Bank of America began coverage on shares of CNX Resources in a research report on Monday, October 28th. They set an “underperform” rating and a $34.00 price target for the company. Piper Sandler cut CNX Resources from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $22.00 to $20.00 in a report on Thursday, August 15th. Tudor Pickering upgraded shares of CNX Resources to a “strong sell” rating in a research report on Tuesday, October 1st. StockNews.com cut shares of CNX Resources from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Finally, BMO Capital Markets increased their price target on shares of CNX Resources from $26.00 to $29.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Six investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, CNX Resources currently has a consensus rating of “Hold” and a consensus target price of $29.00.

Insiders Place Their Bets

In other news, Director Bernard Lanigan, Jr. purchased 75,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were acquired at an average price of $26.81 per share, with a total value of $2,010,750.00. Following the acquisition, the director now directly owns 401,820 shares in the company, valued at approximately $10,772,794.20. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 4.65% of the company’s stock.

CNX Resources Stock Performance

NYSE CNX opened at $34.70 on Tuesday. The company has a 50-day simple moving average of $31.65 and a two-hundred day simple moving average of $27.37. CNX Resources Co. has a 12-month low of $19.07 and a 12-month high of $37.57. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 1.67 and a beta of 1.37. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 0.46.

CNX Resources (NYSE:CNX) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.09. CNX Resources had a return on equity of 7.54% and a net margin of 27.79%. The firm had revenue of $424.21 million during the quarter, compared to the consensus estimate of $398.33 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. On average, equities analysts forecast that CNX Resources Co. will post 1.5 EPS for the current year.

CNX Resources Company Profile

CNX Resources Corporation, an independent natural gas and midstream company, engages in the acquisition, exploration, development, and production of natural gas properties in the Appalachian Basin. The company operates in two segments, Shale and Coalbed Methane (CBM). It produces and sells pipeline quality natural gas primarily for gas wholesalers.